Hero Electric and Mahindra Group Hero Electric and Mahindra Group have today announced their partnership to manufacture Electric bikes. As per the agreement, Mahindra group will manufacture Hero Electric’s electric bikes; Optima and NYX, at their Pitampur plant to satisfy the growing demands of the market.
With this collaboration along with the expansion of their present Ludhiana facility, Hero will be proficient enough to meet its demand of manufacturing over 1 million EVs per year by 202 2. This will aid them to drive adoption of a cleaner mode of transport.
“Hero Electric has been leading the Electric two-wheeler sector in the country. To further deepen its roots and strengthen the leadership, Hero Electric has endorsed a partnership with the Mahindra Group, which is leading the EV transition in the electric three and four-wheeler space. This coming together of two industry leaders is to further enhance the manufacturing capabilities to meet demand and utilize Mahindra Group’s robust supply chain to reach newer centres in the country,” says Naveen Munjal, MD, Hero Electric.
The long-term partnership will also see both the companies make the most out of each other’s deep knowledge of EVs and drive new product development in the next few years. We look forward to creating more synergies with them in the near future,” he further added.
The collaborating efforts will be a key factor in flourishing the platform approach to help electrification of the Peugeot Motorcycles portfolio. This is expected to add a major value to both entities through optimization of costs, timelines, and shared resources in this dynamic, rapidly growing global EV environment.